Apple’s foray into the retail market was a genius move, one that’s paid off brilliantly for the company over the past few years. A new analysis by Horace Dediu reveals another metric of this success — Apple earned $57.6 in revenue for every person who visited an Apple Store in the U.S. during the last quarter.
In the US, on a sales per square foot basis, Apple retail continues to perform twice as well as Tiffany & Co., the second best retailer, and three times as well as lululemon athletica, the third best retailer.
The latest quarter showed a 7% growth in visitors and a new record revenue of $57.6 per visitor.
On a revenue of $56.7, Apple earned $12 in profit for every visitor.
The average revenue per store was $13 million, and on an average nearly 250,000 visited an Apple Store in the last quarter, up from 170,000 from the same time last year.
The growth in retail is even more remarkable when you consider that Apple hasn’t had a dedicated retail chief since the past six months. And John Browett, who was the last person to lead Apple retail, wasn’t exactly a good leader either and was fired just seven months into his tenure.